Square (NYSE:SQ) had its target price boosted by Mizuho from $90.00 to $95.00 in a research report sent to investors on Thursday morning, MarketBeat.com reports. The firm currently has a buy rating on the technology company’s stock.
A number of other research analysts also recently commented on the company. Stifel Nicolaus reiterated a buy rating and set a $100.00 target price (up from $76.00) on shares of Square in a research report on Wednesday, September 19th. Guggenheim reiterated a buy rating and set a $73.00 target price on shares of Square in a research report on Friday, July 13th. BTIG Research initiated coverage on Square in a research report on Thursday, October 11th. They set a sell rating for the company. Canaccord Genuity upgraded Square from a hold rating to a buy rating and increased their target price for the company from $60.00 to $90.00 in a research report on Friday, October 12th. Finally, Credit Suisse Group raised their price target on Square from $81.00 to $94.00 and gave the stock an outperform rating in a research report on Wednesday, October 10th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $78.59.
Shares of NYSE SQ traded down $1.96 during midday trading on Thursday, reaching $73.27. 17,258,235 shares of the stock traded hands, compared to its average volume of 13,558,816. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.18 and a current ratio of 2.18. The company has a market capitalization of $31.73 billion, a P/E ratio of -732.70 and a beta of 4.30. Square has a one year low of $34.14 and a one year high of $101.15.
Square (NYSE:SQ) last posted its earnings results on Wednesday, November 7th. The technology company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $431.00 million during the quarter, compared to the consensus estimate of $414.19 million. Square had a negative return on equity of 3.18% and a negative net margin of 2.30%. The company’s quarterly revenue was up 67.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.07 EPS. As a group, equities analysts predict that Square will post -0.04 EPS for the current fiscal year.
In other Square news, CEO Jack Dorsey sold 103,035 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $79.61, for a total value of $8,202,616.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alyssa Henry sold 50,000 shares of the stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $80.07, for a total value of $4,003,500.00. Following the completion of the sale, the insider now owns 494,544 shares in the company, valued at approximately $39,598,138.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,300,650 shares of company stock worth $187,755,700. Insiders own 27.99% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. CIBC Asset Management Inc increased its stake in shares of Square by 5.3% during the third quarter. CIBC Asset Management Inc now owns 14,784 shares of the technology company’s stock valued at $1,464,000 after buying an additional 738 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Square by 1.0% during the third quarter. Oregon Public Employees Retirement Fund now owns 75,472 shares of the technology company’s stock valued at $7,472,000 after buying an additional 754 shares during the period. Lincoln National Corp increased its stake in shares of Square by 13.7% during the second quarter. Lincoln National Corp now owns 6,327 shares of the technology company’s stock valued at $390,000 after buying an additional 764 shares during the period. Alpha Cubed Investments LLC increased its stake in shares of Square by 23.1% during the third quarter. Alpha Cubed Investments LLC now owns 4,208 shares of the technology company’s stock valued at $312,000 after buying an additional 791 shares during the period. Finally, IFP Advisors Inc increased its stake in shares of Square by 5.7% during the third quarter. IFP Advisors Inc now owns 15,264 shares of the technology company’s stock valued at $1,511,000 after buying an additional 818 shares during the period. Institutional investors and hedge funds own 51.25% of the company’s stock.
Square Company Profile
Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.
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